The Analytical Overview of the Main Currency Pairs on 2018.03.15

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.23922

Open: 1.23678

% chg. over the last day: -0.12

Day's range: 1.23618 – 1.23837

52 wk range: 1.0492 – 1.2537

There is an ambiguous technical pattern on the EUR/USD currency pair. At the moment, the quotes are consolidating. The key trading range is 1.23400-1.23800. The ECB head Mario Draghi said that the regulator planned to adhere to the current monetary policy. Investors' concerns regarding the trade war rose again. We recommend opening positions from the key levels.

The attention is focused on the economic reports from the US:

- The export and import price indices at 14:30 (GMT+2:00);

- The number of jobless claims at 14:30 (GMT+2:00);

- The index of manufacturing activity from the Federal Reserve Bank of Philadelphia at 14:30 (GMT+2:00).

Indicators do not send accurate signals. The price has crossed 50 MA and 200 MA.

The MACD histogram is located near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which sends a signal to sell EUR/USD.

Trading recommendations

Support levels: 1.23400, 1.23000

Resistance levels: 1.23800, 1.24100, 1.24400

If the price fixes above 1.23800, it is necessary to consider buying EUR/USD. The target movement level is the offer zone of 1.24100-1.24400.

Alternative option. If the statistics from the US is optimistic, the bearish sentiment may prevail on the EUR/USD currency pair. The movement is tending to 1.23400-1.23000.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.39620

Open: 1.39645

% chg. over the last day: +0.05

Day's range: 1.39603 – 1.39885

52 wk range: 1.2106 – 1.4345

The GBP/USD currency pair is in a sideways trend. The key support and resistance levels are: 1.39400 and 1.39900, respectively. We recommend opening positions from these marks. Participants of the financial markets expect additional drivers. The attention is focused on economic reports from the United States.

The news feed on the UK economy is calm.

The price has fixed above 50 MA and 200 MA, which signals the power of buyers.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is crossing the %D line. There are currently no signals.

Trading recommendations

Support levels: 1.39400, 1.39000, 1.38500

Resistance levels: 1.39900, 1.40500

If the price fixes above the resistance level of 1.39900, the GBP/USD currency pair is expected to grow. The movement is tending to 1.40400-1.40500.

Alternative option. If economic reports from the US are positive, sales on the GBP/USD currency pair may prevail. The target level of movement is 1.39400-1.39000.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.29487

Open: 1.29567

% chg. over the last day: -0.08

Day's range: 1.29467 – 1.29646

52 wk range: 1.2059 – 1.3795

At the moment, the USD/CAD currency pair is trading in the flat. The trading instrument is testing the local support and resistance levels: 1.29350 and 1.29700, respectively. The USD/CAD quotes are tending to grow. Investors expect statistics on the labor market in Canada at 14:30 (GMT+2:00). Positions must be opened from the key levels.

We recommend paying attention to the news feed on the US economy.

The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram is located in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the growth of the USD/CAD currency pair.

Trading recommendations

Support levels: 1.29350, 1.28850

Resistance levels: 1.29700, 1.30000

If the price fixes above 1.29700, USD/CAD is expected to rise. The immediate goal for profit taking is the round level of 1.30000.

Alternative option. If the price fixes below the support level of 1.29350, you need to look for entry points to the market to open short positions. The movement is tending to 1.28850-1.28500.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 106.459

Open: 106.314

% chg. over the last day: -0.39

Day's range: 105.785 – 106.357

52 wk range: 107.33 – 115.51

Today in the Asian trading session the bearish sentiment has prevailed on the USD/JPY currency pair. The trading instrument found support at 105.850. The 106.250 mark is already a "mirror" resistance. The USD/JPY quotes are tending to decline. Investors' concerns regarding the trade war rose again, which supports the demand for safe active. We recommend opening positions from the key levels.

The news feed on Japan's economy is calm.

The signals of the indicators are different. The price has fixed below 50 MA and 200 MA.

The MACD histogram is located in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the growth of USD/JPY.

Trading recommendations

Support levels: 105.850, 105.550, 105.300

Resistance levels: 106.250, 106.700, 107.100

If the price fixes below the 105.850 level, it is necessary to consider selling USD/JPY. The movement is tending to 105.550-105.300.

Alternative option. If the price fixes above the "mirror" resistance of 106.250, we recommend looking for entry points to the market to open long positions. The movement is tending to the round level of 106.600-106.700.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer,
and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.